Renovated 82-Key
For Sale
Contact for pricing
200 Colonnade Parkway, Woodway, TX 76712
Renovated hotel with third-party management and proximity to Waco-area demand drivers.
Property Size70,660 SF
Price / SF$120.29
Days on Market171
Property Features for 200 Colonnade Parkway
General Information
Standard status
Active
Size
70,660 SF
Property subtype
Hospitality
Investment Type
Institutional
Net Operating Income
$800,000
Additional Details
Asking Price
$8,500,000
Building Details
Year Built
2009
Year Renovated
2019
Stories
4
Listing Agency:
Matthews
Listed By:
Alfonso Garcia · License #TX 826978
Source:
Crexi
Added: Apr 23
Changed: Oct 1
Last Checked: Oct 9 at 5:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This 82-key SpringHill Suites hotel encompasses 70,660 square feet and was constructed in 2009 before undergoing renovation in 2019. The property is institutionally owned and operated by a third-party management firm based in Columbus, OH, with absentee ownership currently in place.
The hotel sits within a 5–7 mile radius of Waco’s primary demand drivers, including Magnolia Market at the Silos and Baylor University. Baylor serves more than 20,000 students and generates demand connected to athletics, graduations, and academic events. Nearby healthcare anchors include Baylor Scott & White Medical Center – Hillcrest and Ascension Providence Hospital, supporting travel related to medical care.
The hotel sits within a 5–7 mile radius of Waco’s primary demand drivers, including Magnolia Market at the Silos and Baylor University. Baylor serves more than 20,000 students and generates demand connected to athletics, graduations, and academic events. Nearby healthcare anchors include Baylor Scott & White Medical Center – Hillcrest and Ascension Providence Hospital, supporting travel related to medical care.
Key Highlights
- 82‑key hotel built in 2009 and renovated in 2019
- 70,660‑square‑foot hotel property
- SpringHill Suites location within a 5–7 mile radius of Magnolia Market at the Silos and Baylor University
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,740
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,074,800
$5.1M
Cap Rate 7%
$3,624,857
$3.6M
Cap Rate 9%
$2,819,333
$2.8M
Market Conditions
NOI Build-Up for 70,660 SF
Gross rent
$847.9K $12.00/SF
− Vacancy
−$313.7K −$4.44/SF
EGI
$534.2K $7.56/SF
− OpEx
−$280.4K −$3.97/SF
NOI
$253.7K $3.59/SF
Area
McLennan County, TX
Vacancy
37.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,074,800
Cap Rate 7%
$3,624,857
Cap Rate 9%
$2,819,333
Alternative Uses
Best Use
Hotel Hospitality
$3.62M
$3.17M – $4.23M
NOI $253,740 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$880.25M
$770.22M – $1,026.96M
NOI $61,617,563 @ 7.0% cap · market cap 724.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 76712, TX
27,800
Population
11,704
Households
2.4
Avg Household Size
41
Median Age
49%
College-Educated
96%
High-School Grad
52.4 sq mi
ZIP Area
531
Density / Sq Mi
$96,267
Median Household Income
$56,879
Median Earnings
$1,333
Median Rent
$302,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Renovated hotel with third-party management and proximity to Waco-area demand drivers.
Where is this hotel located?
The property is located at 200 Colonnade Parkway Woodway, TX.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 82‑key hotel built in 2009 and renovated in 2019; 70,660‑square‑foot hotel property; SpringHill Suites location within a 5–7 mile radius of Magnolia Market at the Silos and Baylor University
